notes to the financial statements - Investor Relations

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CWT Limited OPERATIONS REVIEW 1. Brunei Darussalam to supply pixelated camouflage combat uniforms, combat vests and field packs for the Brunei army. Additionally our defence logistics arm continued to provide project and shipment management services for multiple overseas exercises and break bulk cargos. We also expanded our retail management for the Singapore Armed Forces’ (SAF) eMarts from four to 21 eMarts across the island. In July 2011, CWT was one of the recipients for the Meritorious Defence Partner Award from the Singapore Ministry of Defence (MINDEF) in appreciation of organisations that have shown commendable support for Total Defence. As the largest warehouse operator in Singapore and managing over 10 million square feet of global warehouse space, CWT is committed to providing reliable, efficient and effective storage, movement and distribution services and solutions to our customers. In 2011 we continued to consolidate our market leadership position and expanded our warehouse assets to meet the increasingly growing demand for warehouse space. We completed the construction of two new warehouses in Singapore last year – CWT Logistics Hub 3 and Pandan Logistics Hub which are operating at full occupancy – provide some of our warehouse and logistics customers with a combined 1.16 million square feet of warehouse space. Both multi-level warehouses come with drive-up ramps for transport vehicles to reach each facility directly, facilitating efficient loading and unloading operations and vehicle turnaround time. Complementary to our logistics capabilities and solutions, CWT’s extensive logistics infrastructure has remained a key requisite component for our market competitiveness and it is vital for us to continue to strengthen and expand this advantage. In mid 2012 we will add to our assets portfolio another 100,000 square feet of warehouse which we are currently building in Port Klang, Malaysia. Also in the pipeline is a new and bigger CWT Cold Hub 2 – the 725,000-square foot cold chain logistics facility in Singapore is expected to be ready in 2013. ENGINEERING SERVICES Our engineering and maintenance arm Indeco Engineers secured over S$75 million worth of maintenance service contracts for the year under review and continued to gain market share in the local market. 2. Among the key highlights, we inked a major contract with AIMS AMP Capital Industrial REIT (AACI REIT) to design and construct a warehouse in Singapore and renewed contracts with the Republic of Singapore Air Force (RSAF) to provide maintenance services for its aviation ground equipment and air specialist vehicles. We further enhanced our market leadership in High Volume Low Speed (HVLS) fans when we were awarded the contract to supply and install HVLS fans to 30 schools under Phase 1 of the Ministry of Education (MOE) Schools Project. We were also awarded by the Singapore Land Authority the symbolic and historical project for the dismantling of the railway and ancillary structure from Woodlands Train Checkpoint to Tanjong Pagar Railway Station. In addition, we helped maintain vehicles, facilities and buildings for various government and related institutions throughout the year. These included army camps and military vehicles. In 2011 Indeco received the ‘Minister for Defence Award’ in recognition for our significant contribution to the Singapore defence force. Expanding beyond our domestic activities, we have also formed a joint venture in India to provide facility and vehicle maintenance services and tap into the huge market there. 1. Packaging and distribution hub operations 2. Pandan Logistics Hub
AWARDS RECOGNITION CWT’s continued operating and financial performance growth have been duly recognised. In September 2011 we were named in Forbes Asia’s annual ‘Best Under A Billion’ list which identifies the 200 best publicly listed companies with sales less than US$1 billion (based on revenue in 2010) in the Asia Pacific region. CWT is the only company from the logistics industry which makes the cut to garner a spot in the ‘Best Under A Billion’ list. In addition, leading independent market research firm Frost & Sullivan named CWT the ‘2011 Singapore Domestic Logistics Service Provider of the Year’ under its Asia Pacific Best Practices Award which took place last September. The award recognises the best performing domestic logistics service provider in Singapore for 2010 which has shown excellent growth in Singapore and other countries as well as demonstrated the ability to address the diverse business opportunity that exists in the evolving logistics industry. CWT Group CEO Loi Pok Yen with the Chairman of Port Klang Authority and Port Klang Free Zone, Dato’ Dr. Teh Kim Poo, at the groundbreaking ceremony for CWT’s new warehouse in Port Klang, Malaysia Frost & Sullivan ‘2011 Singapore Domestic Logistics Service Provider of the Year’ Award Annual Report 2011 25
Page 1 and 2: CWT Limited Annual Report 2011 Annu
Page 3 and 4: ABOUT THE CWT GROUP VISION To Be A
Page 5 and 6: GROUP FIVE-YEAR FINANCIAL SUMMARY F
Page 7: Largest warehouse operator in Singa
Page 10 and 11: CWT Limited CHAIRMAN’S STATEMENT
Page 12 and 13: CWT Limited BOARD OF DIRECTORS Loi
Page 14 and 15: CWT Limited EXECUTIVE TEAM Loi Pok
Page 17 and 18: ELEVATION Rising through resilience
Page 19 and 20: COMMODITY SUPPLY CHAIN MANAGEMENT C
Page 21: MIDDLE EAST Kuwait Kuwait UK Estoni
Page 24 and 25: CWT Limited OPERATIONS REVIEW “Am
Page 29 and 30: CHARACTER Our identity and performa
Page 31 and 32: EHS activities and related awards E
Page 33 and 34: Investor Relations We regularly eng
Page 35 and 36: CORPORATE GOVERNANCE Annual Report
Page 47 and 48: DIRECTORS’ REPORT YEAR ENDED 31 D
Page 49 and 50: STATEMENT BY DIRECTORS YEAR ENDED 3
Page 51 and 52: STATEMENT OF FINANCIAL POSITION AS
Page 53 and 54: Annual Report 2011 CONSOLIDATED STA
Page 55 and 56: CONSOLIDATED STATEMENT OF CHANGES I
Page 57 and 58: CONSOLIDATED STATEMENT OF CHANGES I
Page 59 and 60: CONSOLIDATED STATEMENT OF CASH FLOW
Page 61 and 62: NOTES TO THE FINANCIAL STATEMENTS Y
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NOTES TO THE FINANCIAL STATEMENTS Y
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STATISTICS OF SHAREHOLDINGS SHAREHO
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NOTICE OF ANNUAL GENERAL MEETING An
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NOTICE OF ANNUAL GENERAL MEETING An
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CWT LIMITED (Company Registration N
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CORPORATE DIRECTORY Loi Pok Yen Gro
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notes to the financial statements - Investor Relations

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